(cossp) -- ONGC Mangalore Petrochemicals Ltd's (OMPL) petrochemical complex coming up at Mangalore Special Economic Zone (MSEZ) at Mangalore is likely to start commercial operations in the first quarter of next financial year.
Rs 5,750 crore project is being set up by OMPL which floated by ONGC and MRPL. A strategic investor with majority holding is likely to be roped in at a later stage. The project will include paraxylene (PX) unit with a capacity of 9.20 lakh tpa, benzene (BZ) unit with a capacity of 2.70 lakh tpa and 72 MW gas based combined cycle power unit.
MRPL refinery which is adjacent to the petrochemical complex will supply feedstock of naphtha and aromatic rich streams from the refinery. OMPL is currently in the process of tying up long term agreement with the potential customers.
Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun, India. It is one of the largest Asia-based oil and gas exploration and production companies, and produces around 77% of India's crude oil (equivalent to around 30% of the country's total demand) and around 81% of its natural gas.
MRC